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UAE, India ink money transfer deal

Indian expats will be able to send money home using post offices across both countries under new deal.

By Lynne Roberts

Tue 23 Oct 2007 11:42 PM

Emirates Post (EP) has signed an agreement with the Indian Postal Service to enable money order transfer to India.

Under the deal, Indian expats will be able to send money orders to dependents using post offices across both countries, state news agency Wam reported on Tuesday.

The two companies signed a memorandum of understanding during a visit to India by an EP delegation including deputy director general for operations Salem Al Shae.

A return visit from the Indian postal department is planned next month, during which an agreement will be sealed.

India is believed to have the most widely distributed post office system in the world, with a presence across remote areas of the country. The post office has traditionally served as a financial institution for millions of people in rural India.